Cottés Group has received an investment from Henko Partners

Cottés Group

Founded in 2010 and headquartered in Valencia, Spain, Cottés is a leading service provider of complex turnkey projects, including the design and installation of fire protection systems, temperature control and smoke evacuation systems and energy efficiency services in Spain. The company is a pioneer in the application of computational methods for the design of fire protection, smoke control and evacuation systems.

The Deal

The Cottés management team and majority shareholders decided to launch a process to find the right partner to achieve their ambitious growth plans. As part of this strategy, they were open to selling a majority stake while remaining committed to the company to execute the next phase of growth.

Since 2010, the company has built a leading platform in the active fire protection services space in Spain, growing from €4 million to €30 million in sales, diversifying its portfolio of services and expanding across the country. Looking ahead, the company has identified a pipeline of strategic add-ons to increase its geographical footprint and enhance its service offering.

Cottés engaged Lincoln International to execute a targeted sale process focused on financial investors with a proven track record in buy-and-build strategies. Lincoln facilitated a sale process that attracted interest from high-priority financial acquirers by leveraging its fire safety expertise to articulate Cottés’ story and its attractive attributes in the marketplace. The sale process resulted in a relevant minority sale to Henko Partners in December 2024 and the sale of a majority stake in July 2025. This partnership provides Henko Partners with an opportunity to scale Cottés both in Spain and internationally by investing in new geographies, strengthening its maintenance service line and executing add-on acquisitions.

Our Perspective

Iñigo González de Castejón, Managing Director in Lincoln’s Business Services Group who led the transaction, commented, “Regulatory demand continues to drive strong investor interest in the fire and life safety sector. In this space, Cottés has established itself as a leading player in Spain, known for its deep technical expertise in fire suppression and smoke control solutions. We’re proud to have supported Cottés in its partnership with Henko Partners and will remain closely engaged as both parties work toward achieving their shared ambitions in this exciting new chapter”

Henko Partners

Henko Capital Partners is an independent private equity firm focused on supporting Spanish and Portuguese small and medium-sized companies in markets with long-term growth trends. Henko seeks to work with founders and management teams to develop high-potential businesses. In partnership with the portfolio companies, Henko drives strategic initiatives and hands-on operational improvements. As entrepreneurs for entrepreneurs, the firm supports portfolio companies to accelerate growth in a sustainable way. The team has extensive investment experience and a solid execution track-record with more than 50 transactions closed in business services, manufacturing, technology, telecommunications and healthcare. Henko Capital Partners is a responsible investor committed with strict environmental, social and governance principles.

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